Review problem on the cost observations

Reference no: EM131808396

Question: Cost observations provided for 21 production situations have an average of $149.67 and a standard deviation of $38.85.

a. Find and interpret the two-sided 95% confidence interval.

b. Find the two-sided 99.9% confidence interval.

c. Find the one-sided 95% confidence interval that claims that the population mean for this cost is at least some amount.

d. Find the one-sided 99% confidence interval that claims that the population mean for this cost is no larger than some amount.

Reference no: EM131808396

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